A New York man has been sentenced to decades behind bars for a land investment fraud that cheated clients out of their retirement savings.
Suffolk County District Attorney Thomas Spota (SPOH'-tuh) says Paul White of Huntington, New York got a sentence of 21 to 63 years Thursday. The court also ordered White to pay seven victims a total of $2.9 million.
The DA says White conned investors by promising lucrative federal tax benefits in commercial real estate transactions.
White claimed to be a financial adviser operating under the name of Professional Investment Advisor Inc. Instead of investing the victims' money, the DA says White "financed a comfortable lifestyle" for himself.
His purchases included a farm in Cleveland County, North Carolina, that he turned into a game reserve.